11/15/21 11/15/21

The Reschini Blog: The Pros and Cons of PTO

In the ever-shifting world of people management, the discretion over when time away from the job is justified has long been a source of friction and compromise. What is vacation? What is a sick day? What is an emergency? And who gets to make those final designations, the employee or the supervisor?

Paid Time Off, or PTO, offers a management strategy designed to alleviate or eliminate those points of possible contention, by changing the nature of the discussion. Under a PTO system, employees can “bank” a pre-determined number of hours – either by pay period, or by month, or annually – then draw from those hours for whatever purpose they want.In addition to simplifying the administration of an employee’s time away, PTO treats the employee as an adult capable of managing his or her time responsibly while not needing to worry about justifying the reason to a manager, or offer misleading information about taking a sick day when not actually being sick. Also, PTO keeps healthy employees from feeling “penalized” for not taking sick days available to them.Having a PTO system in place also makes a company more attractive to potential employees and increases loyalty among current employees, since time off is treated as a pool of hours, and not segmented into categories. This means, for example, that unused sick days can be automatically used to take more time for vacation.Of course, some caution must be taken with plans like PTO. Managers must watch so that employees do not abuse the system, taking unreasonable stretches of time away that impact the company negatively. Also, managers must still take responsibility for sending home an ill employee, who would prefer to stockpile time for vacation instead.But for organizations with a culture that welcomes flexible work schedules, PTO can be a great tool for all involved, as an attractive alternative to traditional vacation and sick time off.Contact the Benefits team at The Reschini Group to learn more.

Copyright 2021 The Reschini GroupThe Reschini Group provides these updates for information only, and does not provide legal advice. To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.

9/20/21 9/20/21

The Reschini Benefits Blog: Total Compensation Statements

For many employees, the paycheck represents the sum total of how their employer compensates them. But in many cases, that’s not the complete picture.

From the employer’s perspective, the benefits package offered to their workers may be quite substantial, but those same employees may not be aware of or may not understand the full scope of what they’re being offered. A Total Compensation Statement can help raise appreciation, morale, and loyalty among the members of a workforce.

A Total Compensation Statement highlights the monetary value of a company’s benefits package, including those perks that may be overshadowed by traditional benefits, to include information on:

Salary
Bonuses
Commissions
Stock options
Stock grants
Employee stock purchase plan
Retirement plan
Social Security contributions
401(k) matching contributions
Paid time off
Coverages for health, life and disability insurance
Wellness rewards (e.g., discounts and cash  bonuses)

By assigning a dollar amount to benefits that do not seem to have a tangible monetary value, employers can promote the idea of total compensation, beyond just a paycheck. Pulling back the curtain in this way can lead to higher retention rates among employees and can make the organization more competitive when talking with recruits during the hiring process.Committing to providing Total Compensation Statements will require some investment of time and resources to gather and present this data, but the return on this investment can be more than worth the effort.Contact the Benefits team at The Reschini Group for more information.Here is a resource for total compensation:Total Rewards - Compensation and Benefits

8/23/21 8/23/21

The Reschini Blog: Workers’ Comp and the Pandemic

Believe it or not, 2020 may not have been such a bad year for workers’ compensation insurers and insureds after all.

The National Council on Compensation Insurance (NCCI) looked at results through the third quarter of 2020 and extended those through the end of the year, using data from private carriers and state funds in 41 jurisdictions. The NCCI figures are calendar year and do not reflect the full costs of treating COVID-19 or other health conditions with long-term effects.

Overall for 2020, NCCI found:

Worker claims due to COVID-19 have ranged from no symptoms to critical care, hospitalizations and, unfortunately, fatalities in some cases.
The overall COVID-19 claims picture is by no means dire, with the majority of cases only requiring the injured worker to miss work and quarantine or recover at home.
About 80% of the COVID claimants received very limited treatment, with 20% admitted to the hospital, representing the costliest and most complicated cases.
The typical COVID inpatient stay lasts on average about seven to eight days.
The majority of workers filing COVID workers’ compensation claims were women, at nearly 70%. These claimants are also generally older than the typical injured worker, with a large share age 55 years and older.
Also, injured workers who contracted COVID-19 and required medical treatment were more likely to have comorbidities such as hypertension and chronic pulmonary disorder.
COVID-19 claims were predominantly among frontline workers, first responders, healthcare and other essential workers, and teachers.

As the Delta variant surges across the U.S., it will be important to see how trends impacting workers’ compensation claims mirror or diverge from those seen from the initial round of COVID-19.For more information, contact the workers’ compensation experts at The Reschini Group.Download our resources about Workers Comp and COVID:

Work Comp Insights_ Coronavirus Considerations

12/21/20 12/21/20

Benefits Blog: Are you an ALE?

The definition of what constitutes an “applicable large employer,” or ALE, can have a significant impact on how that enterprise must arrange for and cover the cost of health care coverage. Be sure you know whether your organization qualifies as an ALE in the eyes of the federal government, especially the Internal Revenue Service.

The Affordable Care Act (ACA) requires ALEs to offer affordable, minimum value health coverage to their fulltime employees or pay a penalty. This employer mandate is also known as the “employer shared responsibility” or “pay or play” rules.To qualify as an ALE, an employer must employ, on average, at least 50 full-time employees, including full-time equivalent employees (FTEs), on business days during the preceding calendar year. All employers that employ at least 50 full-time employees, including FTEs, are subject to the ACA’s employer shared responsibility rules, including for-profit, nonprofit and government employers.A Full-Time Employee is an individual that works, on average, 30 or more hours of service each week. For this purpose, 130 hours in a calendar month is treated as the monthly equivalent of 30 hours of service per week.Equivalent Full Time Employee counts are determined by looking at part-time employees. Hours worked by employees with fewer than 30 hours per week must be counted—and then divided by 120 per month—to determine the number of FTEs. The number of FTEs is then added to the actual full-time employee countAs you might expect, the definitions surrounding what constitutes affordable, minimum value health coverage can become intricate and technical, as well. But if you’re an ALE, it’s your responsibility to know the rules and abide by them.Contact the Benefits Team at The Reschini Group for more information and guidance.

Copyright 2020 The Reschini GroupThe Reschini Group provides these updates for information only, and does not provide legal advice. To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.

10/19/20 10/19/20

Benefits Blog: Technology-Based Enrollment

Open Enrollment generates enormous work for companies and some confusion and stress for workers hoping that their benefits choices for the coming year are the best ones for them and their families.

Technology-based enrollment, however, can alleviate a sizeable portion of those issues, saving employers time and money, while making the process more efficient and user-friendly for HR departments and employees. Here’s how:

Every step of the benefits management process is automated, eliminating the need for paper-based processes and improving efficiency and accuracy.
Online enrollment lowers the overall cost of providing services to employees by eliminating the costs of distributing and collecting paper enrollment packets. It also shortens the enrollment cycle.
Online enrollment enables employees to self-enroll in benefit programs, review their benefit data and report life-event changes.
Employees can choose plans based on eligibility criteria and can compare costs and coverage of previous elections against new offerings.
Elections can be automatically applied to employee records.
Employees receive written confirmations detailing their elections, and can easily view and update their records and plans.
Human Resources can check the status of enrollment in real time and may be able to generate detailed reports regarding the cost of employee benefits.

At the same time, some employees may be intimidated by an online option, preferring more one-to-one assistance. Also, some employees may not make informed benefit decisions if they are only advised via the computer and are not provided personalized recommendations.To encourage as much online enrollment as possible:

Introduce new software and train employees before Open Enrollment begins.
Use existing resources (company’s intranet, bulletin board postings or newsletter) to promote technology-based enrollment.
Encourage management to promote the use of technology-based enrollment to increase employee buy-in.
Establish online communities or blogs where employees can discuss successes and problems they are having while enrolling.

Technology is a tool that can offer impressive advantages, but people must feel comfortable and safe for an employer to make the most of the opportunity. Talk with the Benefits Team at The Reschini Group for help in fashioning an Open Enrollment program for your particular situation.

9/21/20 9/21/20

Benefits Blog: Tips for a Successful Open Enrollment

Once a year, the floodgates fly open and a benefits bonanza begins. It’s Open Enrollment, a slice of time when employers make benefits packages available to employees, who must then sift through options on the way to selecting the best protections for them and their families.

Open Enrollment can be overwhelming. Employees can re-evaluate their current benefits and make  changes for the coming year, while employers must choose a  benefits package that balances cost and value and facilitate  the enrollment process.Benefit  offerings change as new demands on employees  and employers arise. To make the  process as smooth as possible, employers must educate and communicate with their employees  effectively.As employer-sponsored benefits transition to more voluntary, employee-paid or employee-subsidized offerings, employees must assume more control in making smart decisions. Benefit information should be conveyed in an easy-to-understand format providing essential information, along with any additional helpful resources.The typical Open Enrollment process looks like this:-- Notification: Employers send out an organization-wide announcement alerting employees that open enrollment will begin shortly.-- Receipt: Employers distribute information about benefit plans, selection information and the appropriate forms to their employees, as well as information from selections made the previous year.  Employers may offer employees additional information as appropriate to assist in decision-making.-- Deliberation: Employees research available options and discuss with family to determine which benefits they will select for the coming year.-- Decision: Employees select their benefits.The Open Enrollment process can be improved by:-- Establishing solid communication between the HR department and employees.-- Surveying the employee population to determine their priorities.-- Customizing benefits and information resources to the life stages of your employees.There’s a lot riding on the process and the decisions made during Open Enrollment, but by taking some strategic steps, all parties can emerge from the experience feeling good about the choices made and the benefits to be provided over the coming year.Contact the Benefits Team at The Reschini Group for more help with your Open Enrollment questions.

7/13/20 7/13/20

Report Card: Filing the Form 5500 Annual Return

Data drives decisions. Data reveals trends. Data is the lifeblood of business and government. And data provides the underpinning of one of an employer’s most important documents each year – the Form 5500 Annual Return/Report of Employee Benefits Plan.

This annual report filed by employee benefit plan administrators is used by the U.S. Department of Labor (DOL), Internal Revenue Service (IRS) and the Pension Benefit Guaranty Corporation (PBGC) to consolidate the main annual reporting requirements for employee benefit plans. The Form 5500 series is intended to protect the rights and benefits of plan participants and beneficiaries by assuring that:

Employee benefit plans are operated and managed in accordance with certain prescribed standards
Employee benefit plan participants and beneficiaries are provided with or have access to sufficient plan information

In addition, the Form 5500 series is an important compliance, research and disclosure tool for the DOL. It is also a source of information and data for use by other federal agencies, Congress and the private sector in assessing employee benefit, tax and economic trends and policies.Small welfare benefit plans that are unfunded or fully insured (or a combination of unfunded and insured) are exempt from the Form 5500 filing requirement. A small welfare benefit plan is one that has fewer than 100 participants at the beginning of the plan year.A welfare benefit plan is unfunded if benefits are paid as needed directly from the general assets of the employer. Plans that use a trust or separately maintained fund to pay benefits are not considered unfunded. A plan is insured if benefits are paid through insurance policies. If premiums are paid by employees, the employer must forward the employee contributions no later than three months after receipt.The Form 5500 series must be administered completely and carefully. Contact the Benefits team at The Reschini Group to learn more and to set up a meeting.

6/1/20 6/1/20

Touchpoint: Preparing a Summary Plan Description (SPD)

Benefits packages represent a two-edged sword – they’re incredibly important in providing for and protecting yourself and your family, while they also can be rather challenging to read and fully understand.

That’s why the U.S. Department of Labor requires employers to provide each employee with a Summary Plan Description (SPD). This key compliance document for virtually every Employee Retirement Income Security Act (ERISA) plan “is the primary vehicle for informing participants and beneficiaries about their rights and benefits under the employee benefit plans in which they participate,” according to the DOL.The SPD must be written so as to be understood by the average plan participant and must be sufficiently comprehensive to inform participants about their rights and obligations under the plan. Also, ERISA and underlying DOL regulations include strict requirements for the content and delivery of SPDs.The SPD must be automatically distributed to plan participants by certain deadlines. It also must be provided upon a participant’s request. The SPD must include specific types of information, such as the plan’s eligibility rules. Virtually all group health plans subject to ERISA must provide participants with an SPD, regardless of size.ERISA does not require that a plan document be in any particular format. However, the plan document must address:

Benefits and eligibility;
Funding of benefits;
Procedures for allocating and delegating plan responsibilities;
Plan amendment and termination procedures;
Designation of named fiduciary; and
Required provisions for group health plans, such as COBRA rights and HIPAA compliance.

ERISA does not require plan administrators to provide a new SPD booklet every year. An updated SPD must be provided every five years if material modifications are made to the SPD’s information during that time period. If no changes are made, then an updated SPD must be provided every 10 years. It is typical, however, for plan design changes to be made each year, particularly for group health plans.A “wrap” document supplements existing documentation to fill in the missing ERISA-required provisions. When a wrap document is used, the ERISA plan document comprises two pieces: 1) the insurance certificate or benefits booklet; and 2) the wrap document itself.Employers who fail to prepare an SPD may face serious penalties. Contact the Benefits team at The Reschini Group to learn more and to set up a meeting.Copyright 2020 The Reschini Group

The Reschini Group provides these updates for information only, and does not provide legal advice. To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.

3/30/20 3/30/20

Striking a Balance: Is a Section 125 Cafeteria Benefits Plan Right for You?

Balancing an employer’s desire to provide benefits with an employee’s need to secure them can be a challenge. Factor in cost, tax obligations, and other variables, and the task becomes more daunting.

Enter Section 125 plans, more commonly known as cafeteria plans. While different types of these plans exist, each provides the opportunity to save money by reducing both the employer’s and employees’ tax liability.

A Section 125 plan may be established pursuant to rules found in the Internal Revenue Code (IRC) Section 125, which provides an exception to what is generally called the “constructive receipt doctrine.” Under the constructive receipt doctrine, offering an employee a choice between cash and an employee benefit requires that the amount that could have been received be included in the employee’s gross income.A Section 125 plan allows employers to provide their employees with a choice between cash and certain qualified benefits without adverse tax consequences. Without a Section 125 plan, employee contributions can only be made with after-tax dollars. The three basic forms of Section 125 plans are:

Premium Only Plan – The most basic and most popular. This plan allows employees to pay their portion of insurance premiums with pre-tax dollars, which in turn reduces both the employer’s and employees’ tax liability. Benefits that are typically offered within a Premium Only Plan include: health, dental, vision, accidental death and dismemberment and group term life insurance.
Flexible Spending Account – Employees may make pre-tax contributions to these accounts, from which an employee may seek reimbursement for expenses paid for child care, health plan deductibles and eligible medical expenses not otherwise covered under a health plan. A Flexible Spending Account allows an employee to increase his or her spendable income while also reducing the employer’s tax liability.
Full Cafeteria Plan – This permits the employer to make a non-elective contribution for every eligible employee. The employees may spend the employer contribution to purchase any of the benefits offered within the plan. In addition, the employee may contribute pre-tax dollars to purchase additional benefits beyond what he or she can purchase with the employer’s contribution.

Of course, many additional variables impact Section 125 plans, such as: offering employees a choice between cash and benefits; limitations on changing employee benefit selections during the plan year; access to any unused Flexible Spending Account funds; impact on other benefits such as Social Security or retirement benefits; administrative costs; and special considerations related to the Affordable Care Act.It can be a difficult balance to strike, but the Benefits team at The Reschini Group can help determine the best course of action for your specific circumstances. Contact us today to learn more and to set up a meeting.

1/6/20 1/6/20

Clear and Credible: Developing a Benefits Communication Program

Employee benefits represent roughly a third of the typical individual’s total compensation package, so it’s in everyone’s interest that the terms, guidelines, and options inherent in those benefits are communicated clearly and with credibility.

That’s the rationale for developing a well-crafted, consistently executed benefits communication program. Achieving this can take time and careful planning. Here are some tips and best practices to streamline the path to success:

Know what benefits your organization provides and how they work.
Ask how your employees feel about your benefits program.
Keep employees and beneficiaries informed of changes to their benefits, and explain confusing terms and features of the plans.
Develop a communication plan, including a timeline, budget, and list of resources or employees to be involved.
Decide what type of communication will be most appropriate for relaying messages to employees.
Sell your communication plan to your manager by defining the benefits associated with the elimination of employee confusion about their benefits.
Set measurable objectives for how much money and time your communication plan will save.
Prioritize compliance with government regulations and clarification of complicated issues, procedures, and terms.
Prepare the communication plan to fit corporate objectives and employee needs.
Target segments of employees who would benefit most from specific features of a benefit by sending tailored communications.
Evaluate the effectiveness of your communication plan through employee surveys, and revise as warranted.

The time and resources devoted to researching, building, and following through on a solid benefits communication plan can prevent confusion, delays, lost productivity, and even impact bottom-line financial results. It is well worth the effort, and can yield important returns to your organization.The Benefits team at The Reschini Group has more information on this subject, and is ready to help your business develop an effective benefits communication plan.

9/23/19 9/23/19

Clearing the Air: The Value of Smoking Cessation Programs

Many employers may not realize the full cost that employee smoking incurs to their company. Smokers are much more likely to develop serious chronic medical conditions, visit the doctor more often, be absent from work with an illness, or have a short- or long-term disability—all of which are very costly to an employer’s health plan and productivity.

In fact, smokers cost private employers in the United States an extra $5,816 per year compared to nonsmokers, according to researchers at Ohio State University. Of that amount, $3,077 comes from smoking breaks, since smokers, on average, take approximately five breaks a day compared to the three breaks reserved for most workers. Excess health care expenses account for $2,056, and the remaining costs are due to increased absenteeism and lost productivity. Implementing a smoking cessation program and incorporating benefits into your health plan can lower the number of employees who smoke and dramatically affect your bottom line now and in the future.Studies have shown that employees are much more likely to quit when smoking cessation resources are included as paid benefits in their health plan. In addition, the Centers for Disease Control and Prevention (CDC) has stated that smoking cessation therapy is the most cost-effective health benefit that employers can offer.Other strategies offered through an employer health plan and in the workplace to help promote smoking cessation include:

Establish smoke-free policies throughout your workplace
Incentive programs for employees who quit and stay smoke-free
Flexible spending program to reimburse smoking cessation counseling and  prescription drugs (if your plan does not cover these items)
On-site counseling options (or counseling referrals)
Employee communications for education, promoting your program, and  encouragement for those quitting
Participating in special events, such as the Great American Smokeout
Health risk assessments to identify employee smokers
Develop other creative ways to offer personal support and encouragement in  the workplace for employees who are quitting
Consider including spouses and dependents in your smoking cessation  benefits

The Benefits team at The Reschini Group can help you fashion a smoking cessation Program for your particular situation. Contact us to learn more.

Copyright 2019 The Reschini GroupThe Reschini Group provides these updates for information only, and does not provide legal advice. To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.

5/28/19 5/28/19

Prescription Drug Coverage: Options to Reduce Costs

While it may appear that so much of health insurance coverage is out of the direct control of businesses and the employees and families they protect, one element does in fact offer a level of control available to just about everyone – the cost of prescription drugs.

These costs can be reduced significantly, and mostly by using the same purchasing strategies applied to how consumers shop for other goods and services. As more consumers comparison shop for drugs, more retailers will compete to win their business, which can drive costs lower.Here are some tips on reducing the costs of prescription drugs:

Compare prices – Drug prices are not uniform, so consumers can save by shopping around.
Substitute drugs – When a doctor prescribes a drug, it pays to ask if a cheaper alternative can be used.
Buy in bulk – Purchasing drugs in larger quantities or for a longer period of time generally reduces the per-dose cost.
Use mail-order pharmacies – Mail-order or online pharmacies offer the best deals on prescription drugs, especially for patients with chronic conditions.
Explore an OTC option – Asking the doctor if an over-the-counter (OTC) drug would work as well as a prescription can cut costs. Many OTC drugs had previously been available only by prescription at first.
Insist on generic – Generic medications work the same as brand-name drugs and can cost from 20 percent to 80 percent less. This option applies to both prescription and OTC medications.
Inquire about assistance programs – Drug manufacturers and state governments offer drug assistance programs for elderly, low-income, and patients with disabilities.
Enroll in discount programs – National drug store chains and national insurance plans sometimes offer programs with additional discounts for a small monthly or annual fee.

Regardless of how one approaches efforts to reduce prescription drug costs, it remains important to never skip doses or stop taking medications based on financial issues. Sticking to a medication schedule helps avoid more costly and potentially more complicated health issues later.Check with your benefits provider to see how the cost of prescription drugs can potentially be lowered within the scope of your coverage. The Benefits team at The Reschini Group can help in this regard.

4/1/19 4/1/19

Remote Control: Telemedicine Offers Wider Care Options

You can call up a quote from Shakespeare in seconds, send a message to the other side of the globe immediately, and even buy a car, all from your smartphone, laptop, or tablet. So why not get checked by a physician? Why not, indeed.

Such is the attraction of telemedicine – the practice of health care from a remote location, which is on the rise and has proven to be quite effective as an attractive option for many health care providers and their patients.

Using live video transmission, typically through an online app designated by the provider, doctors and patients can see each other and talk in real time about any health care concerns or questions – all without needing to be in the same exam room together. Although telemedicine is not a complete replacement for direct patient care, it can be a useful tool for a variety of medical services, such as evaluation, diagnosis, and prescribing treatment.Patients benefit from staying in the comfort of their own homes, oftentimes with a caregiver taking part in the telemedicine session to provide additional information and follow-up care. The potential spread of germs and infection in clinics and hospitals is minimized. Those patients living in rural areas, or who have difficulty arranging transportation, can access quality medical care in a much more convenient manner. And those patients recovering from surgery or severe illness can be readily monitored through telemedicine visits.For many patients, obtaining medical care represents a significant cost in time, resources, and money. Telemedicine helps lower those barriers, while helping to enhance the value of regular visits with the doctor. As access to electronic medical records expands, physicians can combine this technology with telemedicine to bring patients even higher quality care.Check with your benefits provider to see how telemedicine fits into your medical coverage, potentially lowering costs while improving the doctor-patient relationship. The Benefits team at The Reschini Group can help in this regard.

11/25/18 11/25/18

Breaking an Addiction: Smoking Cessation Programs

It’s no secret that using tobacco products is not a healthy choice. What may not be as well known, however, are the costs in lost time and productivity because tobacco users may not be as healthy as other employees.

Studies have shown that employees are much more likely to quit when smoking cessation resources are included as paid benefits in their health plan. In addition, the Centers for Disease Control and Prevention (CDC) has stated that smoking cessation therapy is the most cost-effective health benefit that employers can offer. The CDC advocates a two-pronged approach to coverage:

Behavioral Modification: This type of therapy could include telephone, Internet, or in-person individual or group counseling sessions. This type of therapy is extremely important to help smokers address and change their habits and behaviors associated with smoking, plus receive ongoing support during a challenging time. Counseling has been shown to increase the rate of successful quitting.
Prescription/OTC Drug: Many therapies are available here to help smokers quit. An employer might consider lowering or eliminating copays and deductibles associated with these drugs. Covering smoking cessation drugs in your benefit plan will not only improve the quit rate among those attempting to quit, but also may encourage others to try quitting in the first place.

Additional strategies include:

Establishing smoke-free policies throughout your workplace
Incentive programs for employees who quit and stay smoke-free
Flexible spending program to reimburse smoking cessation counseling and prescription drugs
On-site counseling options (or counseling referrals)
Employee communications for education, promoting your program, and encouragement for those quitting
Special event participation, such as the Great American Smokeout
Health risk assessments to identify employee smokers
Personal support and encouragement in the workplace for employees who are quitting
Including spouses and dependents in smoking cessation benefits
Many employers do not realize the full cost of smoking to their company. Smokers are much more likely to develop serious chronic medical conditions, visit the doctor more often, be absent from work with an illness, or have a short- or long-term disability, all of which are very costly for a company’s health plan and productivity. In fact, smokers cost private employers in the United States an extra $5,816 per year compared to nonsmokers, according to researchers at Ohio State University.

Smoking cessation programs should be a part of any organization’s benefits package, both for the health of employees and to dramatically impact the bottom line. For help establishing a smoking cessation program, contact the Benefits specialists at The Reschini Group.

Copyright 2018 The Reschini GroupThe Reschini Group provides these updates for information only, and does not provide legal advice. To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.

3/19/18 3/19/18

Rx for Savings: Keeping Prescription Costs Low

One of the most significant costs when it comes to health care benefits comes in the form of prescription drug coverage. By being a wise health care consumer, however, you may be able to reduce your prescription drug costs by a significant margin.

There are a number of ways to keep those costs as low as possible. Here are a few suggestions:

Shop around at local pharmacies to find the best price on your prescription. Costs can vary a great deal from one pharmacy to the next, so it’s worth the effort to comparison shop.

Be sure to ask your physician about generic or over-the-counter drug alternatives to substitute for brand-name drugs. Make sure, of course, that the ingredients and the benefits of any generics will be the same as the brand-name option.

Look into discount prescription programs for senior citizens, members of the military, or other demographic groups of which you may be a part.

Investigate using bulk prescription refills. This option, where you receive up to a 90-day supply of a specific prescription by mail, is most applicable to drugs that you may require for an ongoing medical condition.

As with any other part of your health care benefits, it’s important when it comes to your prescription drugs to learn to ask questions, make comparisons, and choose the options that are right for your unique situation.The Benefits team at The Reschini Group is here to help you with any aspect of your benefits package.

1/8/18 1/8/18

Clear and Credible: Developing a Benefits Communication Program

Employee benefits represent roughly a third of the typical individual’s total compensation package, so it’s in everyone’s interest that the terms, guidelines, and options inherent in those benefits are communicated clearly and with credibility.

Know what benefits your organization provides and how they work.
Ask how your employees feel about your benefit program.
Keep employees and beneficiaries informed of changes to their benefits, and explain confusing terms and features of the plans.
Determine a communications plan and timeline, as well as who will prepare your benefit communications and the costs involved.
Decide what type of communication will be most appropriate for relaying messages to employees.
Sell your communication plan to your manager by determining HR and other benefit staff productivity loss due to employee confusion about their benefits.
Set measurable objectives for how much money and time your communications will save.
Prioritize compliance with government regulations and clarification of complicated issues, procedures and terms.
Prepare and distribute communications to fit corporate objectives and employee needs.
Target segments of employees who would profit most from specific features of a benefit by sending tailored communications.
Evaluate the effectiveness of your benefits communications through employee surveys and revise as warranted.

The time and resources devoted to researching, building, and following through on a solid benefits communication plan can prevent confusion, delays, lost productivity, and even bottom-line financial results. It is well worth the effort and can yield important returns to your organization.The Benefits team at The Reschini Group has more information on this subject and is ready to help your business benefit from an effective benefits communication plan.

7/24/17 7/24/17

A Little Now for a Lot Later: Offering Voluntary Employee Benefits

As a responsible employer, you offer your team members the standard, expected suite of benefits – health care coverage, a 401(k) savings plan, and so on. There are ways to extend and enhance the value your employees assign to you as an employer, though, and it may cost you very little, if anything at all.

We’re referring to employers offering a select group of voluntary employee benefit options to their people.

Unlike the traditional benefits package, voluntary employee benefits are just that – employees have the freedom to purchase them on their own or not. The advantage they represent to employers comes in the fact that employees can select these additional voluntary options more conveniently (selected during open enrollment and paid for through payroll deductions already in place), with less work (the choices already have been vetted), and usually at a lower cost (since the options are purchased at a group rate for the company).A sampling of voluntary employee benefit options would include:

Life insurance, sometimes without requiring medical underwriting.
Vision insurance, that can include annual eye exams and discounts on corrective lenses.
Dental insurance, covering preventive services.
Long-term care insurance, for those who have lost the ability to perform basic daily activities (care not covered under Medicare or Medicaid).
Short-term disability, covering a portion of wages lost due to disability, usually up to three to six months.
Critical illness
Accident
Hospital indemnity

As with any insurance coverage, voluntary employee benefits options exist to protect employees and their family members in case of unforeseen, even seemingly unlikely, events and occurrences – situations where, if no coverage is in place, the ramifications can be devastating. A little investment now can pay huge dividends later, should the unexpected strike.Contact The Reschini Group for more information on how offering voluntary employee benefits could work for your particular employment situation.Copyright 2017 The Reschini Group

5/8/17 5/8/17

Focus on Safety: The Value of a Safety Culture

Periodically, The Reschini Group will focus on a particular topic related to Risk Management or Employee Benefits issues. This month, we focus on safety. Read on, and be sure to check out the resources available through the links.

By Mike Drew, The Reschini GroupThe insurance industry runs on a recognition of risk, how to protect yourself from it, minimize it, and recover from any negative effects stemming from it.A key to managing risk effectively for organizations and individuals can be found in establishing and strengthening a true, workable, functioning and ever-deepening safety culture. The Reschini Group is especially qualified to help your business in this essential area.We do this through a variety of safety-related resources for customers to access, including:

Video of a special safety webinar (click to receive a password to view)
Links to multiple industry-generated articles about safety
An in-house resource of safety consultants to serve as an extension of your risk management efforts, offering tangible and effective support, such as:
- ISNetWorld, Avetta, and other contractor management tool experience to help keep you working.
- Help you to stay informed and in compliance with evolving regulatory requirements.
- Audits of commercial vehicle practices and CDL drivers, within the context of DOT regulations, to minimize risks.
- Communication and support during the incident resolution process, including root-cause investigations, return to work assistance and corrective actions trainings.
- Training programs in OSHA compliance, first aid and CPR, aerial work platforms, and more.
- Creating customized safety programs.
- Conducting third-party on-site audits

What’s more, The Reschini Group provides professional consultation as a part of your dedicated service plan. That means you have access to safety services and resources from our local professionals at no additional fee. This feature, combined with all of the offerings listed here, puts our dedication to your safety culture a cut above most other providers. It’s that important.The professionals at The Reschini Group can offer guidance related to all things safety. Contact Mike Drew or Chris Kuhar at 724-349-1300 to set up a time to talk.

More About SafetyRead: Easy Money: Establishing a Workplace Safety Committee Get: Our Introduction to Safety brochure Watch: Our webinar “Building a Safety Culture” (password is safety)

Copyright 2017 The Reschini GroupThe Reschini Group provides these updates for information only, and does not provide legal advice. To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.

In the ever-shifting world of people management, the discretion over when time away from the job is justified has long been a source of friction and compromise. What is vacation? What is a sick day? What is an emergency? And who gets to make those final designations, the employee or the supervisor?

For many employees, the paycheck represents the sum total of how their employer compensates them. But in many cases, that’s not the complete picture.

Believe it or not, 2020 may not have been such a bad year for workers’ compensation insurers and insureds after all.

Open Enrollment generates enormous work for companies and some confusion and stress for workers hoping that their benefits choices for the coming year are the best ones for them and their families.

Once a year, the floodgates fly open and a benefits bonanza begins. It’s Open Enrollment, a slice of time when employers make benefits packages available to employees, who must then sift through options on the way to selecting the best protections for them and their families.

Data drives decisions. Data reveals trends. Data is the lifeblood of business and government. And data provides the underpinning of one of an employer’s most important documents each year – the Form 5500 Annual Return/Report of Employee Benefits Plan.

Benefits packages represent a two-edged sword – they’re incredibly important in providing for and protecting yourself and your family, while they also can be rather challenging to read and fully understand.

Balancing an employer’s desire to provide benefits with an employee’s need to secure them can be a challenge. Factor in cost, tax obligations, and other variables, and the task becomes more daunting.

Enter Section 125 plans, more commonly known as cafeteria plans. While different types of these plans exist, each provides the opportunity to save money by reducing both the employer’s and employees’ tax liability.

Employee benefits represent roughly a third of the typical individual’s total compensation package, so it’s in everyone’s interest that the terms, guidelines, and options inherent in those benefits are communicated clearly and with credibility.

While it may appear that so much of health insurance coverage is out of the direct control of businesses and the employees and families they protect, one element does in fact offer a level of control available to just about everyone – the cost of prescription drugs.

You can call up a quote from Shakespeare in seconds, send a message to the other side of the globe immediately, and even buy a car, all from your smartphone, laptop, or tablet. So why not get checked by a physician? Why not, indeed.

Such is the attraction of telemedicine – the practice of health care from a remote location, which is on the rise and has proven to be quite effective as an attractive option for many health care providers and their patients.

It’s no secret that using tobacco products is not a healthy choice. What may not be as well known, however, are the costs in lost time and productivity because tobacco users may not be as healthy as other employees.

One of the most significant costs when it comes to health care benefits comes in the form of prescription drug coverage. By being a wise health care consumer, however, you may be able to reduce your prescription drug costs by a significant margin.

Employee benefits represent roughly a third of the typical individual’s total compensation package, so it’s in everyone’s interest that the terms, guidelines, and options inherent in those benefits are communicated clearly and with credibility.

We’re referring to employers offering a select group of voluntary employee benefit options to their people.

Periodically, The Reschini Group will focus on a particular topic related to Risk Management or Employee Benefits issues. This month, we focus on safety. Read on, and be sure to check out the resources available through the links.

The Reschini Group®800-442-8047922 Philadelphia StreetIndiana, PA 15701

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The Reschini Group®
800-442-8047
922 Philadelphia Street
Indiana, PA 15701